Brokerages Set Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) Price Target at $15.67

Brainsway Ltd. Sponsored ADR (NASDAQ:BWAY) has earned an average recommendation of “Buy” from the six analysts that are currently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $15.6667.

A number of equities research analysts have recently issued reports on BWAY shares. Weiss Ratings restated a “buy (b-)” rating on shares of Brainsway in a report on Tuesday, July 21st. Wall Street Zen lowered Brainsway from a “buy” rating to a “hold” rating in a research note on Saturday. New Street Research reissued a “buy” rating on shares of Brainsway in a report on Friday. BTIG Research started coverage on Brainsway in a research note on Monday, July 20th. They issued a “buy” rating and a $18.00 price target for the company. Finally, Zacks Research raised Brainsway from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th.

Hedge Funds Weigh In On Brainsway

Several institutional investors and hedge funds have recently modified their holdings of BWAY. Goldman Sachs Group Inc. increased its position in Brainsway by 2.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 25,738 shares of the company’s stock worth $490,000 after acquiring an additional 589 shares during the period. Man Group plc boosted its holdings in Brainsway by 4.5% in the 4th quarter. Man Group plc now owns 18,027 shares of the company’s stock valued at $343,000 after purchasing an additional 782 shares during the period. NewEdge Advisors LLC grew its position in shares of Brainsway by 7.4% during the 3rd quarter. NewEdge Advisors LLC now owns 28,629 shares of the company’s stock worth $431,000 after purchasing an additional 1,964 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Brainsway during the 1st quarter worth approximately $40,000. Finally, Ballast Advisors LLC bought a new position in shares of Brainsway during the first quarter worth approximately $55,000. 30.11% of the stock is currently owned by institutional investors and hedge funds.

Brainsway Price Performance

Shares of BWAY opened at $15.97 on Monday. The firm has a market capitalization of $640.88 million, a PE ratio of 45.63 and a beta of 1.22. The company’s 50-day moving average is $15.02 and its 200-day moving average is $13.97. Brainsway has a fifty-two week low of $5.68 and a fifty-two week high of $17.35.

Brainsway (NASDAQ:BWAY) last announced its earnings results on Wednesday, May 13th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.05 by $0.07. Brainsway had a net margin of 15.68% and a return on equity of 12.28%. The business had revenue of $15.53 million during the quarter, compared to the consensus estimate of $14.63 million. Analysts predict that Brainsway will post 0.33 earnings per share for the current fiscal year.

Brainsway Company Profile

Brainsway Ltd is a medical device company specializing in non-invasive neuromodulation therapies. Publicly traded on the NASDAQ under the symbol BWAY, the company develops and commercializes deep transcranial magnetic stimulation (Deep TMS) systems designed to treat a range of neuropsychiatric and neurological disorders. Brainsway’s technology aims to offer an alternative or complement to traditional pharmacological therapies by targeting precise brain regions with its patented coil designs.

The company’s flagship Deep TMS platform utilizes proprietary H-coil arrays engineered to reach deeper cortical structures than conventional TMS devices.